Share Offer Update

As you will be aware the formal closing date for our Golden Lion Community Share Offer has now passed as has the moratorium that was invoked due to the Localism Act and the Asset of Community Value that the pub has been listed under.

Our funding and share offer has been very successful to date, we are not quite at our full target figure for the share offer but the response to date has been nothing short of tremendous. Due to the long Easter weekend we will still be receiving share applications and expect to do so throughout the coming week. We will be in a better position after we have accepted and processed all the applications to provide an accurate final update on the Share Offer once this work has been completed.

In the meantime if you have not yet submitted your application there is still time to get them in, similarly if you are aware of someone who was going to invest but hasn’t yet for any reason done so, feel free to give them a nudge on behalf of the community.

There is a ‘Share Offer Thermometer’ set up outside the Community Shop that we update as regularly as possible. In summary however we have received almost 250 individual applications and achieved well over 70% of our share offer target at the last count.

As the moratorium has now finished, the current owner of the Golden Lion is now able to sell to whoever they wish. We will be pushing the owner, through the sales agents, to give us a decision on the formal offer we have previously submitted. That offer was based on a number of professional valuations we had commissioned before we submitted our offer.

Can we as a Committee thank everyone who has been so generous and supportive in this community project so far, whether through direct financial support, advice and encouragement or from our external support organisations.

We will get a more detailed update out to all of you as soon possible. In the meantime if you have any questions around investing in the Community Share Offer or about the project in general please feel free to email us, or contact us via Facebook or Twitter if you prefer.